The Economic Survey 2016-17 tabled in Parliament has advocated for the concept of _______.

1.

Cashless transactions

2.

Universal Basic Income

3.

Citizen's dividend

4.

Biometric authentication

5.

Social insurance

Solution

Answer: The Economic Survey 2016-17 tabled in Parliament has advocated for the concept of Universal Basic Income (UBI) as an alternative to the various social welfare schemes in an effort to reduce poverty. It suggests that a more efficient way to help the poor will be to provide them resources directly, through a UBI. It will be an efficient substitute for a plethora of existing welfare schemes and subsidies.

According to Economic Survey 2016-17, the inter-state migration of workers in India has increased substantially to _____ lakh in the between 2011-16.

1.

90

2.

93

3.

95

4.

91

5.

98

Solution

Answer: According to Economic Survey 2016-17, the inter-state migration of workers in India has increased substantially to 90 lakh annually between 2011-16 period compared to the previous years. The estimate of labour migration in India was based analysis of census data of 2011 and railway passenger traffic in the unreserved category and new methodologies including the Cohort-based Migration Metric (CMM).

The Income Tax Department launched Operation ________ to analyse large cash deposits made during the demonetisation window.

1.

Shaktimaan

2.

Trivikrama

3.

Silver Fox

4.

Freedom

5.

None of the above

Solution

Answer: The Income Tax Department (ITD) launched Operation Clean Money (Swachh Dhan Abhiyan), an e-platform to analyse large cash deposits made during the demonetisation window (9 November to 30 December 2016). Under it, e-verification of large cash has been done using data analytics for comparing the demonetisation data with information in ITD databases.

The 2017 St. Petersburg International Economic Forum will be held in which country?

1.

USA

2.

Hungary

3.

Israel

4.

Russia

5.

Germany

Solution

Answer: The 2017 St. Petersburg International Economic Forum will be held in Russia from June 1 to 3, 2017. India is invited as the Guest country for the event. Prime Minister Narendra Modi will attend the St Petersburg International Economic Forum (SPIEF). India and Russia are working on the “bilateral aspect” during Modi’s visit o Russia. The SPIEF is an international economics and business event held annually with the participation of the President of the Russian Federation.

Solution

Answer: Fiscal deficit in the first nine months of 2016-17 touched 93.9 per cent of the Budget target against 87.9 per cent for the same period a year ago. In value terms, the April-December fiscal deficit stood at Rs 5.01 lakh crore, or 93.9 per cent, of 2016-17 Budget estimates (BE). The fiscal deficit stood at 87.9 per cent in the corresponding nine months a year ago, as per 2015-16 Budget estimates.

Solution

Answer:

Chillr was launched in 2014. It is a multi-bank mobile banking app that lets users send and receive money to/from anyone in their phone book. Chillr differentiates from online wallets as all fund transactions are between bank accounts. It was listed in the “App Store Best of 2015” on the IOS platform in India. Chillr is the only Financial/Banking app to be listed in this category.

Solution

Answer: In finance, the private equity secondary market (also often called private equity secondaries or secondaries) refers to the buying and selling of pre-existing investor commitments to private equity and other alternative investment funds. Given the absence of established trading markets for these interests, the transfer of interests in private equity funds as well as hedge funds can be more complex and labor-intensive.